NISSHA will transfer Vietnamese medical device maker USM HEALTHCARE to its management. After the acquisition, inappropriate accounting treatment was discovered, and NISSHA decided that maintaining the company's enterprise value would be difficult, prompting it to proceed with the transfer plan.
NISSHA made USM HEALTHCARE MEDICAL DEVICES FACTORY JOINT STOCK COMPANY in Vietnam a subsidiary to expand its medical device business in the country, but subsequently discovered inappropriate accounting treatment. NISSHA determined that preserving and enhancing the company's enterprise value would be difficult and decided to transfer USM to its management.
USM's revenue was ¥2.5 billion and its net assets were ¥4.99 billion (fiscal year ended December 2025). The transfer price was not disclosed. NISSHA jointly holds 60% of USM's shares with its subsidiary Nissha Vietnam Co., Ltd. Under the transfer plan, NISSHA will transfer 50% of the shares in mid-September 2026 and the remaining 10% between mid-September 2027 and mid-September 2028.
As an update, NISSHA announced that the transfer of 50% of the shares was completed on 17 September 2026 and that USM was no longer included in the scope of consolidation.